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DURKIN & ASSOCIATES, INC
CASE OUTCOME: Registration Revoked
NFA ID:
0089950
Overview:
Release: 2975-88 September 14, 1988 CFTC Docket #88-12 Washington--The Commodity Futures Trading Commission announced today that it has accepted an offer of settlement from John F. Durkin (Durkin) of Long Beach, California. Durkin was the sole remaining respondent in the administrative proceeding that the Commission filed on March 11, 1988, against Durkin, Timothy E. Durkin, James W. Bolt, Durkin & Associates, Inc., the company for which Durkin acted as an undisclosed principal and controlling person and Com-Tech Systems, Ltd. The Commission accepted the settlement offers of the other respondents on March 11, 1988. The eight-count complaint charged Durkin with violating a Commission cease and desist order, with acting as an unregistered associated person and commodity pool operator, with willfully omitting and misstating material facts in a registration application filed with the Commission, and with cheating and defrauding commodity pool participants by failing to disclose material facts. Durkin, without admitting or denying the allegations in the complaint, consented to Commission findings that he violated the Commodity Exchange Act and Commission regulations as charged. The Commission ordered Durkin to cease and desist from further violations of the Act and regulations, to never seek registration again with the Commission or the National Futures Association in any capacity, and to pay a civil penalty of $3,500. Finally, the Commission ordered Durkin never to trade again for his own account.
Source: National Futures Association
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